Bitcoin Market Crash Prompts Forum To Post Suicide Help Info
When Bitcoin value dipped by over 25%, a sub-forum on Reddit posted suicide help information to mitigate suicidal feelings among Bitcoin investors.
The rise in Bitcoin value has attracted a large number of investors to trade the cryptocurrency, but many have fallen victims to the unregulated market that is extremely volatile.
Bitcoin value recorded a high value of US$20,000 (RM79,000) last month and now has dipped to just over US$11,000 on Friday.
Those who jumped on the bandwagon after regulators began cracking down are taking actual losses.
“If you feel you might be suicidal and live in the United States, I urge you to call the Suicide Hotline at 800-273-8255 or navigate to http://www.suicidepreventionlifeline.org/ for a live chat and additional resources,” a user posted on the r/Cryptocurrency subreddit.
Subreddits are effectively specialised sub-forums on Reddit.
“If you do not live in the United States please seek out local resources. /r/SuicideWatch has a list that may cover your country: /r/SuicideWatch/wiki/hotlines. Let others know if you need any other guidance to people who help.”
Similar to most other countries, Bitcoin in Malaysia operates in a grey area, where it is not accepted as legal tender but using and trading it are not illegal.
Bank Negara Malaysia will expand its anti-money laundering laws to cover Bitcoin, but will not regulate it and other cryptocurrencies.